A "Wall Street group" and an Internet entrepreneur have expressed interest in mounting a counterbid to News Corp.
Ownership Associates founder and President Christopher Mackin declined to identify the entrepreneur or the members of the group. Mackin, an adviser to the union, also declined to say what kind of group it was.
Mackin also said Yucaipa Cos., the investment firm run by Los Angeles billionaire investor Ron Burkle, is working with the union, but "has not committed funding or financing."
The union also is open to more than one way to structure a union-led buyout of Dow Jones if the opportunity arose, including an employee stock ownership plan, Mackin said.
Dow Jonesshares were trading slightly higher in afternoon trading, whileNews Corp. was trading lower.
Interest From Tierney
Earlier Thursday, The Journal reported that Brian Tierney, who led the investor group that bought the Philadelphia Inquirer and the Philadelphia Daily News for $515 million, said he is interested in taking a look at Dow Jones.